OT: Bitcoin and Alt Coin Discussion and Questions

[Spider156]

If anyone invested yesterday in crypto , you are more likely than not to have made at least 15% return on your investment. The market is green because the futures has brought institutional money to BTC and introduced them to exchanges.

And then you would have lost 15%+ minimum since then.. how is Bitcoin supposed to function as a currency if it loses 25% of it's value since literally 2 days ago?

it won't be used as a currency. Was never meant to be a currency. It's the blockchain technology that's valued that high. What they'll do is try to convince you BCC or BCH is the real bitcoin used for currency. If you really want to get rich, get in salt. It's going at least 2x from here.

[Spider156]

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https://go.cryptonite.io/membership

[Arp590]

If anyone invested yesterday in crypto , you are more likely than not to have made at least 15% return on your investment. The market is green because the futures has brought institutional money to BTC and introduced them to exchanges.

And then you would have lost 15%+ minimum since then.. how is Bitcoin supposed to function as a currency if it loses 25% of it's value since literally 2 days ago?

it won't be used as a currency. Was never meant to be a currency. It's the blockchain technology that's valued that high. What they'll do is try to convince you BCC or BCH is the real bitcoin used for currency. If you really want to get rich, get in salt. It's going at least 2x from here.

So several pages ago when the Bitcoin market cap was compared to the market cap of some of the most highly-valued companies, it was argued that Bitcoin is a currency & can't be valued in that same manor.
Now we are saying that Bitcoin should not be valued as a currency, so it sounds to me like Bitcoin is essentially worthless.
Does Bitcoin own the rights to the block-chain technology? No, so i'm not real sure why Bitcoin should hold any value.
What's to stop companies like Microsoft from developing this technology on their own?

I bought some Litecoin/ETH back in August for the hell of it, those have both gone up quite a bit since then.
I have thrown some play money at some alt coins over the past few weeks, in an attempt to make some money off this craze, but I do not view any of my holdings as an "investment".
I do own some Salt, REQ, EOS, IOTA, & NEO.

[mercury]

This correction was expected... Most look at this as a short window to buy before institutional $ roll in.... For now it's best to zoom out and look at the growth this past month and year.

[Billl]

Sure - you were crowing about it going up big in a day, but going down big in a day isn't an issue? Sure.

And no, if it's "expected", then it would have been built into the price yesterday. That's how expected works with securities.

[Blkbrd671]

Everyone calm your tits, this correction is expected and in fact is healthy price action. If it kept going up with out, then the crash would have been much harder.

Recommended buy zone for me is around 11-12K, did buy some at 12.5 yesterday. Ladder in and out of your trades peeps.

Those holding ETH and LTC, either set tight stop losses or HODL, as soon as this fork is over , i expect LTC and ETher to have significant price surges.

[Blkbrd671]

Didn't realize it but my orders were filled, BTC went down to $11,151, now back at 14.5K!!! nice little profit

[mercury]

Sure - you were crowing about it going up big in a day, but going down big in a day isn't an issue? Sure.

And no, if it's "expected", then it would have been built into the price yesterday. That's how expected works with securities.

I stated earlier in this thread that we were expecting up to a 30% correction.. so yes it was predictable. It's already up 3K today... you can't just look at this a one day trend... when dealing with this asset's volatility it's best to relax and be patient.... or you can jump on any negative thing you can find... in the meantime we'll hold on for the long term and enjoy the returns.

[Blkbrd671]

Sure - you were crowing about it going up big in a day, but going down big in a day isn't an issue? Sure.

And no, if it's "expected", then it would have been built into the price yesterday. That's how expected works with securities.

I stated earlier in this thread that we were expecting up to a 30% correction.. so yes it was predictable. It's already up 3K today... you can't just look at this a one day trend... when dealing with this asset's volatility it's best to relax and be patient.... or you can jump on any negative thing you can find... in the meantime we'll hold on for the long term and enjoy the returns.

think it may go 9K on the final waves then go at the ATH

[Spider156]

Sure - you were crowing about it going up big in a day, but going down big in a day isn't an issue? Sure.

And no, if it's "expected", then it would have been built into the price yesterday. That's how expected works with securities.

I wish it crashes and burns to 8k. Watch me make more money than ever on it. It's definitely expected and I'll show you guys why...

https://www.tradingview.com/x/Te0KjyAo/

Look how everything sits nicely on the lines. The trends are there. I told someone it'll crash a week ago and it did. He's now giving me money to enter my group. This is too easy when you know what to do wherever bitcoin goes.

[CelticsLV]

John McAfee making bank on expenses of his blind fallowing crypto cult.

Guy just pre-buys **** coins for cheap, then promotes them on twitter saying all kinds of BS (next big thing and that he believes those coins are real deal) and the herd rushes in to buy those coins. Demand soars, price skyrockets and McAfee liquidates his **** coins for huge profits. Rinse and repeat.

This market is such a mess. Not manipulated at all.. Insider trading on exchanges (Coinbase and BCH launch), pump and dump schemes by influential people etc.

The ultimate scam artist and market manipulator Jordan Belfort knows what he's talking about.

[Blkbrd671]

John McAfee making bank on expenses of his blind fallowing crypto cult.

Guy just pre-buys **** coins for cheap, then promotes them on twitter saying all kinds of BS (next big thing and that he believes those coins are real deal) and the herd rushes in to buy those coins. Demand soars, price skyrockets and McAfee liquidates his **** coins for huge profits. Rinse and repeat.

This market is such a mess. Not manipulated at all.. Insider trading on exchanges (Coinbase and BCH launch), pump and dump schemes by influential people etc.

The ultimate scam artist and market manipulator Jordan Belfort knows what he's talking about.

there is literally 100's of these kind of guys and groups and while yes it leads to market manipulation, it also leads to profits for alot of ppl and losses for others.

You can notice who these guys are as their "Calls and Signals" usually are on coins with small amount of BTC in volume and then they brag about how they were right. I naively bought into 1, and i called this guys bs right off the bat.


I have also considered running my own channel where i just forward the signals that i get!!! only .1 btc for a LIFETIME MEMBERSHIP , though the group is only going to be around til March.

[Manocad]

Again, I keep seeing how people “made” all these awesome profits in a day or two. You didn’t “make” anything until you convert to USD. “I bought a $200,000 Lambo with bitcoin!” Good for you. Now sell it for USD and see where you lie. You can’t pay your power bill with a car.

Like I said previously, I can’t say that I “made” $1900 on the four guns I bought for $1000 even though I know I can sell them for $2900 if I desired. All I can say is that I have 1000 fewer dollars in my account and four more guns.


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[Blkbrd671]

BTC hardfork Segwit2x is set for the 28th, the Alt coin market is Bleeding red.............................means buy buy buy buy , well maybe wait just little longer =p

[mercury]

Again, I keep seeing how people “made” all these awesome profits in a day or two. You didn’t “make” anything until you convert to USD. “I bought a $200,000 Lambo with bitcoin!” Good for you. Now sell it for USD and see where you lie. You can’t pay your power bill with a car.

Like I said previously, I can’t say that I “made” $1900 on the four guns I bought for $1000 even though I know I can sell them for $2900 if I desired. All I can say is that I have 1000 fewer dollars in my account and four more guns.


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Cashing out takes about two clicks... Fiat in hand... But it can't do this and it can't do that... Haters gonna hate instead of taking advantage of a trending asset recognized by large investment firms.

[ComboGuardCity]

Again, I keep seeing how people “made” all these awesome profits in a day or two. You didn’t “make” anything until you convert to USD. “I bought a $200,000 Lambo with bitcoin!” Good for you. Now sell it for USD and see where you lie. You can’t pay your power bill with a car.

Like I said previously, I can’t say that I “made” $1900 on the four guns I bought for $1000 even though I know I can sell them for $2900 if I desired. All I can say is that I have 1000 fewer dollars in my account and four more guns.


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What? When you exchange crypto for goods, you are just cutting out the middle exchange to usd. You can still turn it into usd easily. Hell, the IRS recognizes any cap gains as a taxable transaction. Some of these crypto exchanges are even fdic insured meaning your goods are more protected than your local credit union.

Look, I’m not saying Crypto is the end all, but diversifying into it is a high risk high yield gamble that has been paying off for many. It’s just like those aggressive portfolios you may see your broker putting your 401K accounts into. To point to it and a man screams at cloud manner, while spouting myths as facts is ignorant.


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[Arp590]

Again, I keep seeing how people “made” all these awesome profits in a day or two. You didn’t “make” anything until you convert to USD. “I bought a $200,000 Lambo with bitcoin!” Good for you. Now sell it for USD and see where you lie. You can’t pay your power bill with a car.

Like I said previously, I can’t say that I “made” $1900 on the four guns I bought for $1000 even though I know I can sell them for $2900 if I desired. All I can say is that I have 1000 fewer dollars in my account and four more guns.


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While I agreed with you that most of these coins should be worth $0 & that they are obviously very very high risk investments.. but the argument you are trying to make above is just silly.

[Manocad]

Again, I keep seeing how people “made” all these awesome profits in a day or two. You didn’t “make” anything until you convert to USD. “I bought a $200,000 Lambo with bitcoin!” Good for you. Now sell it for USD and see where you lie. You can’t pay your power bill with a car.

Like I said previously, I can’t say that I “made” $1900 on the four guns I bought for $1000 even though I know I can sell them for $2900 if I desired. All I can say is that I have 1000 fewer dollars in my account and four more guns.


Sent from my iPhone using RealGM Forums

What? When you exchange crypto for goods, you are just cutting out the middle exchange to usd. You can still turn it into usd easily. Hell, the IRS recognizes any cap gains as a taxable transaction. Some of these crypto exchanges are even fdic insured meaning your goods are more protected than your local credit union.

Look, I’m not saying Crypto is the end all, but diversifying into it is a high risk high yield gamble that has been paying off for many. It’s just like those aggressive portfolios you may see your broker putting your 401K accounts into. To point to it and a man screams at cloud manner, while spouting myths as facts is ignorant.


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You’re calling me ignorant? I’m not still chasing a dream. And like I said, for every winner THERE HAS TO BE A LOSER. It’s a net zero game, and anyone who claims that ANYONE who invests is guaranteed to profit is a liar, plain and simple. THAT’S ignorance.

Haters gonna hate? Yep. I went the “old man yells at cloud” traditional route—which was claimed to be impossible—and get nothing but criticism. Yet people WHO HAVEN’T GOTTEN THERE YET claim they have the answer.

Again, SHOW ME UP. Make me eat crow. I’ll wait.


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[Manocad]

I’m truthfully not trying to break anyone’s balls in the sense that if you can get rich quick, good for you, more power to you. My only contention is that not EVERYONE who invests in ANYTHING can get rich. And if you’re looking forward to retirement you’d better be looking at an account containing US dollars.

The “middleman” in retirement isn’t a car seller, real estate agent, or a retailer. If you retired properly all that stuff has been bought and paid for. The “middlemen” you have to deal with are the IRS, property tax collectors, utilities, home/auto insurers, etc. These are not companies that deal in crypto or will ever deal in crypto.


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[Blkbrd671]

In most, if not all companies, you have overhead which are essentially fixed cost that annually you can anticipate incurring in order to conduct business. You can attempt to reduce your overhead but you'll eventually hit a point where you can't properly conduct business without incurring X-amount of Cost.


Blockchain technology enables companies to transfer data in the quickest,cheapest and most secure manner, verifies itself as well as has the the ability to be program'd. In other words, Blockchain can enable a company to dramatically reduce overhead in ways that weren't possible before or perform those same tasks at a fraction of the cost. If a owner can receive information, whether it be a invoice, time card etc, and knows 100% that the data is accurate , there's not as much need for 3rd party/internal reconciliation. This is just a very small and simple example of Blockchain application in the real world.

I would also recommend to the board to ignore the "negative rhetoric" being posted. If a poster CLEARLY hasn't even tried to research a topic but thinks he's knows everything about that topic, its a pointless discussion as your trying to argue with ignorance.


Truthfully the real issues with Crypto have more to deal with technical hurdles that weren't anticipated or Asian regulatory bodies indecision etc. All the "Concerns, Risks, & Issues" brought up in this thread are really strawman arguments that google can easily solve with a simple search.